January 19, 2012
While the duties of directors of unlisted private companies often coincide with the strategy and requirements of the subsidiary’s parent company, this is not always the case, and the circumstances may require a director to act independently of the parent. Directors may risk personal liability as regulators are taking tougher stances especially toward bribery, corruption and anti-competitive behavior, particularly cartel abuses. Directors and prospective directors will therefore want to know the extent to which they can protect themselves against these risks.
Our guide below brings together the principal elements under relevant statutes and regulations, as well as the common law, and sets out the potential liabilities and the practical steps that can be taken to avoid them.